Deal includes all mobile graphics and multimedia technology, IP and resources.
Mobile chipset giant Qualcomm has acquired all assets from AMD's Handheld business, including graphics and multimedia technology assets, intellectual property and resources.Qualcomm says the deal will enable it to consolidate its position in the market in addition to delivering more advanced products, encompassing 2D and 3D graphics, audio/video, display and architecture.
The company has extended offers of employment to various design and development teams from AMD’s handheld business.
The two companies signed and closed a binding agreement on January 19th, having already received required regulatory approvals.
Cash consideration from Qualcomm to AMD as part of the transaction is $65 million, subject to adjustments for employee-related expenses and a holdback for certain customary indemnification obligations.
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ltimedia capabilities, allowing Qualcomm to strengthen its leadership position in delivering more advanced products that redefine next-generation mobile user experiences.
Steve Mollenkopf, EVP of Qualcomm and president of Qualcomm CDMA Technologies, said: “This acquisition of assets from AMD’s handheld business brings us strong multimedia technologies, including graphics cores that we have been licensing for several years.
"Bringing this technology in-house creates even greater synergy as we seamlessly integrate the best-in-class multimedia performance AMD offers into our system-on-chip (SoC) products.”
